ITV plc (ITV) Lifted to Overweight at Morgan Stanley
ITV plc (LON:ITV) was upgraded by stock analysts at Morgan Stanley to an “overweight” rating in a research note issued on Friday. The brokerage presently has a GBX 230 ($2.93) target price on the broadcaster’s stock. Morgan Stanley’s price objective would suggest a potential upside of 30.02% from the company’s previous close.
A number of other research analysts have also recently issued reports on the company. Citigroup Inc. reiterated a “buy” rating on shares of ITV plc in a research report on Tuesday, May 9th. Shore Capital reiterated a “buy” rating on shares of ITV plc in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a GBX 256 ($3.26) target price (down previously from GBX 257 ($3.27)) on shares of ITV plc in a research report on Wednesday, April 12th. J P Morgan Chase & Co cut ITV plc to a “neutral” rating and decreased their target price for the company from GBX 235 ($2.99) to GBX 233 ($2.97) in a research report on Friday, April 7th. Finally, Macquarie lifted their target price on ITV plc from GBX 255 ($3.25) to GBX 265 ($3.38) and gave the company an “outperform” rating in a research report on Monday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of GBX 223.29 ($2.84).
ITV plc (LON ITV) opened at 181.40 on Friday. The company’s 50-day moving average is GBX 192.24 and its 200 day moving average is GBX 202.18. ITV plc has a 12 month low of GBX 141.00 and a 12 month high of GBX 221.76. The firm’s market cap is GBX 7.28 billion.
In related news, insider Adam Crozier sold 240,534 shares of the company’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of GBX 210 ($2.68), for a total transaction of £505,121.40 ($643,548.73). Also, insider Anna Manz purchased 1,054 shares of the firm’s stock in a transaction that occurred on Friday, March 31st. The shares were bought at an average price of GBX 212 ($2.70) per share, with a total value of £2,234.48 ($2,846.83).
ITV plc Company Profile
ITV plc (ITV) is an integrated producer broadcaster. The Company creates, owns and distributes content on multiple platforms. It operates through two segments: Broadcast & Online and ITV Studios. The Broadcast & Online segment operates the commercial family of channels in the United Kingdom and delivers content through television broadcasting.
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